Shaw Group Inc. (SHAW) said Friday that it has been awarded a $10.8 million federal tax credit from the U.S. Department of Energy and U.S. Internal Revenue Service for its Shaw Modular Solutions, LLC, nuclear module assembly facility in Lake Charles, La.
The goal of the tax credit, also referred to as Section 48C of the Internal Revenue Code, is to help build a robust, high-technology domestic manufacturing capacity to supply clean energy projects with U.S.-made parts and equipment. The credit supports several critical components of the Recovery Act, including job creation and investment in the domestic renewable energy industry, and will assist Shaw in continuing its role in moving the commercial nuclear industry forward.
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